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so i'm glad you're here tonight. so after it came out in spain, and spanish at university of valencia, nauseous come out october 1st year in the state. and it changes the bunches of. a lot of the stuff i changed was john's idea. he said he was absolutely right. he said the ship to hear you don't think understand and he also made some wonderful suggestions. so we took a chapter out and instead put in an afterword, what it was like to get out of the diplomatic service and go to rutgers university where it been every since as a professor in the very late 60s, early 70s. i went there in 69 and i'm still there. i was supposed to go to vietnam as a u.s. cultural attachÉ in spain and by this time i thought the worst these idea and i'll say three little children i wasn't going to be in a non-gory work i didn't believe in, so i left the service. the four years before that bernstein. there's probably two stories they want to focus on this evening. one is about the day i spent along with martin as their king and richard of all places and the other run is about one of the really terrible events
a look at the bond curve. spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a rally. finally, let's close taking a look at the forex. euro/dollar is weaker. and it's holding just above 1.30. and the dollar/yen, this is the one sixuan mentioned to watch. heading into japanese elections, stocks outperform adding oots .1% to 83.35 this morning. >>> south korea's central bank may be worried about factors in the economy, but the dok says the economy is stronger than it used to be. more on that next. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp o
for the holidays. >>> across spain thursday, coordinated demonstrations were head in dozens of cities to protest cuts in education. it's part of austerity measures aimed at lifting the country out of diet dep. spain's recession is hurting the theater business, too, but as mark phillips reports, one owner found a way to sell tickets. >> reporter: other places, theatrical productions may be about drama and song. in spain right now, though, they're also about vegetables, specifically -- >> carrots. carrots. >> reporter: carrots. the humble root which may determine whether kym marsh's theater in the town near barcelona lives or dies and a lot of others too. why? because the spanish government has recently just about tripled the sales tax on theater tickets and kym fears that no one would ever fill these seats, until he made a discovery whiles out shopping. the tax on carrots is 4%. >> 4%, yes. >> reporter: the tax on theater tickets -- >> 21%. >> reporter: 21%. kym marsh did the math. food for the body, 4% tax. food for the soul, 21%. there had to be a way to bridge the gap. there was. kym doesn't s
with almost 12% of people out of work. crisis hit greece and spain edged with a quarter of the people jobless. in austria and germany, the unemployment rate is about 5%. it has been 164 days since julian assange seeked silence in ecuador. he is wanted for questioning in sweden over allegations of sexual assault, but the price tag has cost the taxpayer over $3 million. >> he is the man that shot to fame for selling state secrets when he website released confidential american cables. in 2010, to swedish women accused him of sex crimes. faced with extradition, he fled to the embassy saying the swedish authorities did not guaranteed not to send them to the u.s.. to promote a new book he has written, he speaks out. >> the swedish government refuses to behave in a way that is at all normal, rational, were reasonable. that is why i have been granted political asylum. >> they say he must face questioning. they are outside the embassy 24 hours a day, waiting to arrest him the moment he walked out. it has cost 21 million pounds and counting. he is reported to be eating a lot of take away food, running
's largely green behind me. the fits fits mib is atting .6%. the ibex in spain, up 0.8%. and the ftse up about 0.3%. now, some company-specific news this morning, fin mechanica saying shares up 2.4%. this on news they're set to buy sge-avio. safran is also a company considering that change. let's take a quick look at the bond space. we'll get a sense of the kind of trade we're seeing shaping up. it is consistent with flows into the periphery, perhaps out of the core and the risk on move generally that we're seeing this morning. yields up to 4.5 roughly in italy at about 5.4%, respectively. gilt is moving up towards is.9% this morning. the bund yield is still extremely low, so that spread between gilt and bund is widening. look at the euro/dollar. 1 1.3171. extraordinary. we're almost up at that 1.32 level. the dollar/yen is flat, right about 83.88. there we go. a little bit of movement there. the aussie lsh dollar is weaker. the aussie/dollar has been weakening. maybe the researchers of the yen not doing too much to spur sentiment. in any case, let's get the latest out of singapore. >> g
bond denominated in the strongest currency in the world, the euro, paying 5.5%? i'll take spain over the united states at this point any day. >> all right. >> so don't agree at all. do not agree at all. look, retail sales in spain are down 9.7% year-over-year. they're seeing the biggest bank run in spain the globe has seen since the great depression. youth unemployment in spain is 55%. there is not a good reason to own spanish bonds here. [ overlapping speakers ] >> last time we were on together you were saying the world was going to end because greece was going to default and leave the euro. it's all over. europe's fine. just give it a break. that was last year's story. [ overlapping speakers ] >> europe is not fine. spain is in significantly worse position. they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all. [ overlapping speakers ] >> spain has about the same debt to gdp ratio as germany. that good enough for you? >> [ overlapping speakers ] >> hang on, fellows. let's not
. in spain, that means one in every four people are out looking for work and a dependent on state aid. >> but it is not all bad news. ireland has managed to turn its major recession around and is now posting gains thanks to a lifeline from the e you. >> two years ago, ireland receive more than 67 billion euros from the eu bailout fund, and the money appears to have helped. the government was able to sink its annual deficit from 32% to 8.5% of gdp, and it is paying much lower interest on government bonds, and the irish economy is growing. only unemployment remains stubbornly high. in october, the jobless rate was still above the eurozone average at 14.7%, but in countries hard hit by the euro crisis, there were even more people out of work, and an increase, and employment is one of 25%. in spain, 26% were one in two young people is out of work. things are not quite that grim in italy, but more and more young people are looking for work. the youth unemployment rate is 36%, the highest since june 2004. >> we have to take a short break, but when we back, december 1 is world aids day. we w
from spain, some of them with the spanish royal armies; other irish influx arrived from the u.s. for the construction of railroads used to transport sugar cane to the sugar plantations. that was at the end of the 19th century. and then at the beginning of the 20th century, we're talking 1902, 1910, before odono that i mentioned before, this man who gave his name to -- he was very proud of this lighthouse. the cubans offer hospitality to general alexander alejandro o'reilly. he rose through the ranks of the spanish army. the spanish sent alexander o'reilly to cuba to form a militia. he was appointed governor of louisiana and head of the army later on. he arrived in august, 1769, and took formal possession of louisiana for spain. think of new orleans and cuba, in particular havana, governors there were also in cuba so there was all this traveling from one city to another because later when i got my ph.d. from tulaine university and i went to the irish channel. it's interesting, the irish history connected with new orleans. so the o'reilly family has been in louisiana for centuri
in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>>> "nightline" continues fro new york city with juju chang. p >> yo>> you know >> you king kong's girlfriend. ap and naomi watrand naomi reaching new heights in hollywood with a career built on gutsy performances. her latest movie conjures up the epic title waive, but for one family on vacation, the tsunami of 2004 was a test of survival and the fierce determination of a mother's love. abc's bob woodruff talked to naomi watts for tonight's "nightline" interview. >> reporter: it started out as an idyllic vacation for a young family on the west coast of thailand, a mother and father played by naomi watts and ewan mcgregor and their three young sons. but the holiday soon turns to a living he
're the teammate. you should be ther >> it is an annual tradition in spain a lottery at christmas time. we're going to tell you why the jackpot in the game makes the power ball so weak. >> it is realry a huge lottery in spain. there were multiple winners. most of the winners near madrid. >> the pay-off is around half a million dollars. a man bought 10 of those tick. and guess what they are $5 million richer. the country takes a have a good night. here you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealersh? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier toto get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and ir first month's payment on any n new volkswagen. visit vwdeal.com today. >> head over to our website, wjla.com, some very cool pictures of know flakes. you're p
the spectacle of that. >> new year's in spain, it also has an interesting tradition. it involves grapes only because the grapes sitting right here. tell me about this. >> yes, all people in spain on the strike of midnight do the following, a great spanish tradition. what they do is, they will start with one grape on the stroke of midnight and for every single minute, every second until the next minute have another grape. i thought we should try it and see how it goes. usually people in spain don't necessarily eat all the grapes, but we can try and, again, it's called the old knight and in the squares of madrid, they'll have the huge clocks chiming and the people in the square all together will do it collectively. so, as we hear the first chime, let's try it. >> do we have chimes? >> we have chimes. >> i'm going to choke if i eat more than one. worse yet, you can't kiss. how do they kiss? you can't answer because you're eating these grapes. you do this well, i think you went to spain at least once for new year's eve. >> she did much better than me. >> i dropped one. >> i have 11 sitting here.
of spain's massive lottery split a jackpot worth more than $3 billion. >>> hi, i'm staff sergeant massey here in kabul, afghanistan. i would like to say happy holidays to all my family in fayetteville, north carolina. happy holidays. my family in fayetteville, north carolina. happy holidays. ( ♪ ) for those nights when it's more than a bad dream, be ready. for the days when you get a sudden call from the school, be ready. for the times you need to double-check the temperature on the thermometer, be ready. when you have children's motrin on hand, you're ready. for high fever, nothing works faster or lasts longer than children's motrin. be ready with children's motrin. when an army of volunteers serve up a holiday feast for thousands of diners. and preparing a stormy white christmas around the countr where people will be shovelg out driveways...and packing scrapers. "i think it will just signal that they can't get it toger -that probably leads to even worse decisions in the futu and bay area leaders sound f on the fiscal cliff stalema. join us for cbs 5 eyewitness news this morning... be
, adding about .1%. take a quick look at the bond space, the yield for spain and italy is moving higher today. but roughly as relevance we've seen predominating over the last couple of weeks. that is around 5.3% for spain. 4.5% for italy. we did see guilds moving about 3% level. now back below 1.9%. stick around because straight ahead, we get a view from one economist who says the weaker yen team is going to continue into the new year and offer some strategic calls. >>> as europeans get back to trading equities, let's get a sense of what we might see in the markets today. chris joins us from ibg group. chris, good morning. >> morning. >> we've seen a pretty quiet couple of days here. we've been talking about strength in the dax and whatnot. what's on your radar screen? >> as you say, it remains a fundamentally quiet day. unfortunately the fiscal cliff is dominating everything, really, what little traders are doing is being over-shadowed by the lack of movement, rather, in washington. >> and we've just heard allen capper who is with us talking about more volatility in the first quarter.
. and, of course, it is recognized. >> what's your view on spain? the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the other hand, you have unit labor costs which have been diminishing quite a lot and the exports of spain are very dynamic today. so it also demonstrates that hard work is being done. it's difficult. it's tough, but going in the right direction. i trust that the global observers are observing progressively and the adjustment is proceed. in spain and in all the countries that are under adjustment. >> now, lonmin's ceo ian farmer is stepping down while being treated for a serious illness after being first admitted to hospital back in august.
. but europe is also finding that green jobs are not all they thought that there would be. spain has just stopped its subsidy for solar power. a solar power does not work in sunny spain it is probably not going to work anywhere. gerry has also stopped its subsidies for solar power. there are a lot of clouds in germany. but the un has had a very strong influence on less. >> po will not old enough to remember, but jimmy carter gave billions of dollars to up alternate energy projects. >> i do remember. i was of the people who had to wait in gas lines in the 1970's. >> to any of those plants still exist? i don't think it lasted more than a couple of years. secondly, are you familiar with another program where he gave money to build five different steel mills, four of went with -- board of which went bankrupt almost immediately and the fifth one put at a business the plan in kansas city in. >> well, jimmy carter's programs did not work then, as i mentioned, i remember waiting in the 1970's in gas lines for one or two hours to fill up with gasoline in the western d.c. area. and just as thes
for government to keep raising the value added tax. we've seen it happened in spain, italy and greece and wherever it's tried. adam: i lived in spain a long time ago. i guess you realize you don't paying it at the time but things are more expensive. david: thank you, gang. thank you very much. thanks to the company. thanks to you for watching. now here are dagen and dennis. hi, gang. dagen: merry christmas. love to your family. david: thank you. same to yours. dagen: i'm dagen mcdowell everybody. dennis: i'm dennis neal -- kneale. dagen: is it the fiscal cliff fears that have shoppers down this season? retailers are reporting slowing sales over the last couple of weeks. dennis: a woman fired for being too attractive and a supreme court says it is legal. dagen: i will bite my tongue because it is the top of the hour and stocks now and every 15 minutes. nicole petallides at the new york stock exchange. hey nicole. nicole: i look forward to hearing more about that particular story as i watch the stock market here, i do see the dow is down about 1/3 of 1%. majority of the dow components a
at the moment, but how did we ever let these excesses of housing here, housing in spain, housing elsewhere, in ireland, in this japan earlier -- in japan earlier, remember those days when you used to talk about the property around the imperial palace in tokyo, and a few hundred acres was equal to the value of all the real estate in california. now, that was real -- i don't know if it was true, but each to talk about -- but even to talk about it was a sense of how extremely -- [inaudible] >> do you share the, when you talk to fed officials, do you share -- >> i'm off the record here? >> no, not now. [laughter] no, no, you're fully mic'd. [laughter] when i talk to a fed official up there because happens to be power within the cia, um, they reveal and betray certain kind of frustration with the criticism they've been subjected including the criticism that they're easing too much because they say, well, that was the only course of action. we couldn't have done anything else in the face of a pretty -- political class. do you share that? >> well, they got it in both directions, and, you know, i
of what they had done. the queen of spain, the british parliament, two united states' presidents, supreme court justices, the american congress, the queen of england, they are all paying close attention to the debate. what do we do about these africans who have taken courage in hand and seized their own freedom? well, their self-emancipation, i want to suggest, had a lot of ripple effects around the atlantic, in europe, in africa, in the caribbean, and in america, especially in america where it had the impact of radicalizing the abolitionist movement, and by that i mean that more and more people began to recognize that the resistance of enslaved people was crucial to abolition. they began during the time of the rebellion to quote a famous line from lord byron. this is repeated again and again and again running all the way up to the civil war, and that line was those who would be free must themselves strike the first blow. in other words, action from below can be a trigger. this had a very dramatic impact op a lot of leading african-american intellectuals like henry highland-garnett, frede
. >> exactly. the jobless rate in spain, don, this year topped 25%, so many people are still struggling. that being said, though, spirits will -- were lifted, and many people had a reason to line their pockets. the lottery, it's the largest lottery in spain, and it's literally translates to the big fat one, elgordo, and spain paid out $2.2 billion to thousands of winners, and you have young children who read out the numbers, which we saw on the video before, and it's really - read out the numbers and it lifts a lot of spirits especially in a time where they have been hit with economic hardship. >> maybe that would help. >> winning the lottery. >> i watched "miracle on 34th street" except i don't like the colorized version. i like the black and white. bah humbug. don scrooge. sorry. maybe when dsanta comes i'll fel better. >>> a year ago he blew out a knee and his career was in jeopardy. now he's chasing an nfl record and one of the year's most inspiring comebacks. a sports story you have to hear about next. and then treats day after day... block the acid with prilosec otc and don't get
half a percent, as well. take a look at bond yields. we looked at that auction yesterday from spain. they raised 4.3 billion. years went lower. nevertheless spanish yields today 5.4%, slightly lower from where we closed, but they did move up substantially after a handle of 5.2. we'll keep our eye on gilts, as well. we'll look ahead to the bank of england. nothing expected from them, of course. 1.8%. david miles was the only man who voted for more qe at the last meeting. as far as currency rates are concerned, euro-dollar at the moment 1.3068, just below the highs during the says. dollar-yen fairly contained. sterling-dollar steady 1.61. so pretty much as you were on some of those compared to this time yesterday. so what about the sazian session? only one lady to tell us. >> thank you, ross. asian markets ended mix. japan's bourses outperformed the region. despite a slight improvement in november corporate sentiment showed weakness. knee sap finished lower as they planned to recall nearly 50,000 cars in japan. shanghai composite pulled back after yesterday's 3% surge. investors booke
and spain, which are treating it as a health issue rather than a criminal issue are getting on top of the problem. >> are you advocating the legalization of drugs? >> globally, we have tried different approaches. the legalization of canvas or the regulation of canada's, would like to see -- seecannabis or the regulationcannabis, would like to see country try that. we would like to see the regulation. correct here in the united states today, possessing small amounts of marijuana becomes legal in washington state. do you expect federal law to change? >> we will see. this is a lot like what happened with the repeal of all in the late -- the repeal of alcohol. state's first did it and then eventually the national government followed suit. washington and colorado became the first two states, not just the first two states, but the first two political jurisdictions anywhere in the world to do this. i think eventually feller what -- federal law will follow. >> and don't you worry that legalizing drugs would just lead to more people using drugs and even more crime? >> this is not about lega
-debt nations like spain or greece, then you are probably going to see that safety play back off a little bit. > there are always places to park money. good to have you on the show this morning. have a great trading day. > > you too. if you're not yet fully awake this monday, here's one thing to open your eyes: after years of higher and higher coffee prices to consumers, brazil, which produces a third of the world's coffee, may turn prices around. a record crop there last year is being followed by another bumper crop. our cover story takes a look at what it means for coffee futures and retailers. brazil is expecting a record coffee crop again, just one year after its biggest harvest ever. "that would be a fabulous production." jack scoville, a commodities broker in chicago, says the bumper crop is the direct result of more coffee farms planted in brazil when a series of small crops drove prices high a couple of years ago. "it's because new trees and new areas are coming on." falling futures aren't great for investors, but may have coffee consumers buzzing. "if it's premium coffee, i'll buy a
. the imposing walls designed to keep from spain. battered and beleaguered, the president is accused by many egyptians of trying to force through a constitution that limits free speech and ignores the country's religious and social minorities. >> anyone that [indiscernible] >> this is a relatively peaceful protest, hundreds if not thousands protecting the presidential palace. they had been given the full power of our rest. the institution that has remained neutral will be reluctant to get involved on behalf of the government against the people. >> earlier in the day on the other side of cairo, the president's own supporters were also out in force. they handed out copies of the controversial constitution, a document for all e egyptians. >> they have no discrimination whatsoever. >> major trouble was averted tonight because the groups were kept apart. in this divided country, a referendum on the constitution is due to take place on saturday. >> awhile protests continue to paralyzed parts of cairo, the capital damascus has renewed fighting. it has been two years since the uprising, tens of thou
a recovery occurring in the eurozone, nkts look forward to 2014 and beyond. >> spain? >> for sure. >> when? >> probably in the second quarter. >> that's an interesting idea, all at once. david owens from jeffries, thank you so much for stopping by. >>> straight ahead, economic policies for next year and what is in store for markets if it mean slower, short-term growth? can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground at fedex of. >>> shinzo abe wastes no time on calling on the bank of japan to ease interest rates. >>> get a little, give a little. reports say john boehner may be willing to raise the tax rates on the rich if president obama raises the cuts. >>> and corporate news weighs on sentiment in europe. kpn shares fall as the dutch telecom group scraps the divide dividend. >>> okay. we're into new trading week here. the xetra dax and the french mark
an eye on it, it is falling a little bit. 1.95% after a soft set of uk retail sales figures. spain, italy, moving higher, but not too much of a move there. 5.3%. and 4.4 for italy. now, forex rates, the euro/dollar and the yen has been in focus still in the last several trading sessions and that continues today. 1.3230 is the level. the yen, though, is giving back about .5% after the bank of japan's quantitative easing plans, pretty much flecting a buy the rumor, sell the fact move. now, house republicans plan to bring their tax bill to a floor vote today. this as tensions over the white house over the fiscal cliff have started to rise. it's unclear what the bill, known as plan b, will look like. house speaker john boehner has reportedly added spending cuts to convince members it will be worth the vote. president obama has threatened to veto the bill. the president says he's puzzled by what's holding up budget talkes and that house republicans should stop trying to score a point against him. >> take the deal. you know, they will be able to claim that they have worked with me over the last
, and more. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ male announcer ] every time you say no to a cigarette you celebrate a little win. nicorette gum helps calm your cravings and makes you less irritable. quit one cigarette at a time. >>> this special edition of "nightline" continues from new york city with bill weir. >> not columbine, nor virginia tech, nor the gaby giffords shooting that took six lives in tuscan had much effect on the gun debate if this country. but there is nothing like the slaughter of 20 first graders to help people focus on an issue. many on both sides of the second amendment debate wonder tonight if this one is big enough to actually change the bi
school of notre dame was influential. we know it innewsed music across europe, spain and italy. >> but you have no idea how delighted quazi moto was. the bell told to mark the hours of the day as it told to mark the liberation of the city in 1944. >> in front of notre dame and even in one of the towers of the famous cathedral, the nazis have established fire. >> we traveled west of paris to normandy to this village, to one of three bell foundrys still in operation. here they are casting the eight new bells to hang in the to your. >> the original bells were seized during the revolution and melted to cannon balls. they are recasting them in copper and continue using molds fashioned from horse hair and ma nuria. >> as we don't want them to make them twice, we will make them higher in tune. and we will take the met a aloff inside to get it perfectly calibrated. >> once tuned, they will toll for the first time in march on palm sunday. right now it is the christmas nativity scene that draws the crowds with two million people expected in december. always an attraction. though it's the
whole >>> rain on christmas day, more showers into wednesday >>> it's been a difficult year in spain. one in four people there out of work, but it's ending with some christmas cheer. nearly 2,000 people hit the jackpot in the world's richest lottery. the story of el gordo is next on "cbs this morning." and it feels like your life revolves around your symptoms, ask your gastroenterologist about humira adalimumab. humira has been proven to work for adults who have tried other medications but still experience the symptoms of moderate to severe crohn's disease. in clinical studies, the majority of patients on humira saw significant symptom relief and many achieved remission. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events, such as infections, lymphoma or other types of cancer have happened. blood, liver and nervous system problems, serious allergic reactions and new or worsening heart failure have occurred. before starting humira, your doctor should test you for tb. ask your doctor if you live in or have been to a region wher
. and the people in particular are suffering. countries like portugal and spain, which are treating it as a health issue rather than a criminal issue are getting on top of the problem. >> are you advocating the legalization of drugs? >> globally, we have tried different approaches. the legalization of canvas or the regulation of canada's, would like to see -- seecannabis or the regulationcannabis, would like to see country try that. we would like to see the regulation. correct here in the united states today, possessing small amounts of marijuana becomes legal in washington state. do you expect federal law to change? >> we will see. this is a lot like what happened with the repeal of all in the late -- the repeal of alcohol. state's first did it and then eventually the national government followed suit. washington and colorado became the first two states, not just the first two states, but the first two political jurisdictions anywhere in the world to do this. i think eventually feller what -- federal law will follow. >> and don't you worry that legalizing drugs would just lead to more people usin
. they are considering plans to phase-out the atomic energy altogether over the next several decades. spain, a flower in the face. it is the annual flower fight using eggs and firecrackers and flour. and it is a day marking the innocence, spain's equivalence of april fool's. it is this fox trip around the world in 80 seconds. >>> a french constitutional panel is saying goodbye to that country's staggering 75% tax rate on the wealthy. the panel has ruled the tax is unconstitutional and unfair. let me say it again. 75% on the wealthy. it was set to kick in at the start of 2013 and will hit anyone hitting a million euros. critics didn't like it. they said it would drive away france's wealthy population. joining me now on the phone from paris is katherine fields. she is a correspondent for global radio news. katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example
to phase-out the atomic energy altogether over the next several decades. spain, a flower in the face. it is the annual flower fight using eggs and firecrackers and flour. and it is a day marking the innocence, spain's equivalence of april fool's. it is this fox trip around the world in 80 seconds. >>> a french constitutional panel is saying goodbye to that country's staggering 75% tax rate on the wealthy. the panel has ruled the tax is unconstitutional and unfair. let me say it again. 75% on the wealthy. it was set to kick in at the start of 2013 and will hit anyone hitting a million euros. critics didn't like it. they said it would drive away france's wealthy population. joining me now on the phone from paris is katherine fields. she is a correspondent for global radio news. katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one mem
is not fine. what beshould do is start a war with spain or france. if we go that everyone will rally to the flag. the south will come in. everybody wants to be beat up on the europeans. he doesn't say it idly. he tells the ambassador from spain and france that it's a deal. the question is what does lincoln want to do. lincoln doesn't think the south is bluffing. he has a problem. the north is not unified behind a war effort. maybe only a third of northern want to fight a war to keep the south in union. about a third are happy about it. we get rid of them. they are fine. let's get rid of the south. we don't have to -- let them go. about a third don't care. we don't want them to leave we don't want to fight for it either. lincoln does something clever. some people want to spend armed expedition to reinforce sumter. some want to sneak these troops in to reinforce them. and they want to give it up. lincoln doesn't do any of them. lincoln announces publicly that he's going send an e petition it's only going to have food and no weapons or ammunition. just food. he's forcing the decision to
nations, such as france or spain whatever, you had to make george iii out to be a tyrant. so he came up with all of these arguments about what he did and that is with jefferson did. >> what did you think? >> i was not a big jeffersonian after i did all of this. he was a wordsmith. he was not a good executive when he was governor of virginia. he was not able to organize effective resistance. he was't famous until famous in the sense that we know historically now. so when he was running for president in the 17 nineties, he held in sulphide as the author of the declaration of independence. which in some ways he was. nobody even cared about that in the 1770s. but that was his claim to fame when he was running for the presidency. he and john adams died on the same day. that is when the whole thing became a sainted document. it was god's handiwork that he -- that they died on the same day. >> would you have fit back in those days? >> up probably would have been a trouble maker -- i probably would have been a trouble maker. i probably also would have been somebody who had a strategic bent. i'm
to be credible to the other nations so they could gain from france or spain, and this was another reason for the declaration of independence, you had to make george iii out to be a tyrant. sonya, with all these arguments about what he did. that is where tempers and dead. -- so they made all these arguments. >> what did you think about jefferson? >> i did not think much. he was a words maturity was not a good governor of virginia. the british almost caught him one time. he was not able to organize effective resistance. he was not famous until he was -- famous in the sense that we know him historical now -- until when he was running for president in the 17 nineties. he held himself out as the author of the declaration of independence, which in some ways he was. nobody had cared about that during 1770 s, but it helped him. that was his claim to fame when he was running for the presidency. then when he and john adams died on the same day, july 4, 1826, and that's when the whole thing became the document that this was god's handiwork, but they died on the same day. >> knowing what you know ab
there. >> yeah. >>> coming up in the program, spain's biggest export. an analyst who says shoppers are ready to spend. >>> and the vice president hugo chavez's cancer operation that was successful. heel be in miami to speak -- we'll be in miami to speak to an an lifted who talks about the transition of power. >>> plus, joined in studio by the ceo of japanese merchandising giant sanrio. what will the man in charge of -- yes -- hello kitty have to say about holiday spending? that's at 5:20 eastern. 11:20 central/european time. >>> u.s. budget talks have intensified. president obama and house speaker john boehner spoke by phone tuesday after exchanging new proposals. aides confirm the president gave boehner a revised offer on monday, reducing demand for new tax revenue from $1.6 trillion to $1.4 trillion over the next decade. boehner responded with a plan that largely sticks by his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal which it hasn't put on the table before. in an interview with a
than the united states. i mean, countries like spain, italy -- >> the austerity policy. when you look at the country -- >> countries like spain and italy -- >> i'm talking about the labor market adjustments. >> they have seen 20%. that's a problem. >> i'm sorry. i didn't hear -- what did you say? >> spain, italy, unemployment around 15, 20%. >> of course they do. >> juliet, hang on, because it is connected to the german point. part of the reason that germany has been able to have export-led growth and be so successful internally, germany is the china of europe. >> i realize that. i made that point about 20 minutes ago. you add shock at the beginning. i'm not talking about the later stage of austerity and self-imposed pain, which is what europe is dealing with right now. but if you look at the ocb adjustment to the downturn and the u.s. has a huge g and p adjustment and loss of unemployment where a lot of these other european countries adjust on hours and their unemployment doesn't go up. that's the only point i was making. >> adjust on hours meaning you get something more like job sha
. among those closed include spain and germany. we're start with asia. shanghai composite is the outperformer. you saw up 1.6% there. here is a list of the markets closed across europe. germany, switzerland, germany and austria. for the bourses that are open, we can take a look at performance this morning and then we'll take a look over at the bond wall. the ftse 100 is down about .4%. ibex down .5%. not a clear picture. definitely mixed trade as people look to close out the year. the bond wall gives the sense for what kind of wall dominates. we're seeing bond yields move higher. investors are exiting the asset class today. italy around the 4.5% level. we've seen these predominant for several weeks and likely a quick check on forrus. the yen, an important one to keep an eye on, as well. dollar/yen firmer, continuing the patterns that we've seen over the last couple of trading sessions. for more on what to expect from markets today, we're joined by chris meyer, managing director and chief strategist from loop capital markets. chris, good morning. we wake up without a deal.
] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk. happy monday. today in the "wall street journal" suggesting netflix could end up doomed with its success with children. netflix just for kids get more popular. companies like viacom get accurate. companies provide netflix with most of its content in a kids' focused section. the journal says at some point the suppliers will probably want to charge netflix more or they might even stop selling to netflix. that's been a huge problem for them when it comes to contend more broadly. >> time for the global markets report. kelly evans standing by in london. you rise above over
exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> what's a few billion dollars among friends? anyway, last month republican senator marco rubio punted on the question of how old the earth is, calling it a great mystery. it's not a mystery it's what the potential presidential candidate for 2016 was playing to the large number
: for "smart is the new rich," i'm christine romans. >>> a small town in spain has hit the jackpot. we'll tell you about that in a moment. >>> and if you go out today, you can watch cnn from your mobile device. punch in cnn live or from your laptop, that is. punch in cnn.com/. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assisnce, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. >>> president obama says he's optd meigsic a bill can be reached on the so-called fiscal cliff. the president and lawmakers left washington for the holidays, but leaders from both sides plan to return after christmas to try to hammer out a deal that would avoid tax hikes for millions of americans. >>> cold, windy, and snowy. that sums up the weather across much of the n
things that are important until they're not. we were terrified that spain and italy couldn't pay their bills. we knew these companies could not bring down taxes. it turns out that we were afraid that these bonds were bringing the whole world down and we should have been buying them. the europeans offered sensible plans and responsible governments stepped up to increase taxes and cut benefits. if you had been able to borrow a ton of money to buy them it would have doubled. it may have been the single best investment of the 21st century to date. we are gripped by a similar hysteria about our own country. the fiscal cliff is like what they had in europe. we need to look for companies being obliterated by the cliff. banco santander was perceived to be the biggest loser. but it turned out to be an amazing trade. the stock traveled to $7.72. i don't think it's done. charitable trust is buying a major midwestern lender. stock has been sliding every day. key is now under $8 and i can tell from the trading in the name it is not going to happen just yet. there are sellers everywhere. the o
, which the germans said they should do, they should have done three years ago they'd be better off. spain is the immediate problem, you have 26% unemployment which is non-performing loans. >> we have to go, 2,200 pages of health care, i'm sure the notes spain's taken how greece has got money at every turn, their pile is a bigger pile than the health care plan. >> i could listen to you guys talk all day long. that was a great conversation. yra, rick, thanks so much. see you in a bit. >>> zynga stock popping. julia boorstin is live in l.a. with more. >> good morning to you, carl. this is the first of many steps before zynga can make money from online gambling. applying for a real money gaming license in nevada is a sign of zynga's seriousness creating new revenue streams. it sent it up as much as 9% higher today. the company warns it will take as much as a year and a half to get approval in nevada but the biggest step of all is a change in federal law, and if online gambling does become legal nationwide, zynga is sure to face some big competition from the casinos. zynga is struggling to sel
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